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Riyadh to convert state housing fund into bank

Tuesday, October 6, 2015 - 05:50

Saudi Arabia plans to convert a state-owned housing fund into a bank, the latest in a string of reforms to the economic policy apparatus announced since King Salman took the throne in January, as it struggles to address a shortage of affordable housing.

PHOTO: AFP

Dubai

SAUDI Arabia plans to convert a state-owned housing fund into a bank, the latest in a string of reforms to the economic policy apparatus announced since King Salman took the throne in January, as it struggles to address a shortage of affordable housing.